DMP Mutual Support Thread (Part 6)

pinkiepie68

Have been "lurking" for a little while. Have just completed the CCCS DMP on line application and am waiting for them to reply. Feel as if I have HUGE levels of debt (£ 75,000 to 19 creditors) and am very scared at the moment, but at leat some of our creditors have been managed in afavourable light on the forum. CCCS have given a prediction of 9 yrs 6 months, but hope that this will reduce when CSA payemt finishes next yeat (£ 375 per month).

Apple38

pinkiepie68 wrote: »

Have been "lurking" for a little while. Have just completed the CCCS DMP on line application and am waiting for them to reply. Feel as if I have HUGE levels of debt (£ 75,000 to 19 creditors) and am very scared at the moment, but at leat some of our creditors have been managed in afavourable light on the forum. CCCS have given a prediction of 9 yrs 6 months, but hope that this will reduce when CSA payemt finishes next yeat (£ 375 per month).

Hi Pinkie

I'm about three weeks further along the process than you and am also with CCCS. I was terrified posting off all the letters and token payments and my stomach lurched every time the phone rang, but everything has quietened down now. I've had one very nasty conversation with a women from Nationwide, but if that is as bad as it gets, I know I'm going to get through this. I was a bit rattled about not receiving any letters from creditors telling me what they planned to do, but CCCS told me it can take 6 weeks for them to respond.

Anyway, I should have been careful what I wished for because I got two default notices in the post this morning! At least that means the six year countdown on my credit file starts now (I think).

It is very scary, but not as scary as ignoring the situation. I bet your 9 years will be more like 6 once you have the extra money to throw at it.

Take care

Apple38

costaerer

hi all,

just made my first payment to cccs!! got jst over 8k of debt on my dmp. they say it will take seven years to clear. i want to clear it in 3 yrs....thats when DH will have finished uni.
im also going to start a spending diary from tomorrow to see where all my pennies...well pounds...and lots of them are dwindling to!!! never seem to have any cash left at the end of the week!!!
im also going away in october so having to start saving for that also....


oh its fun fun fun!!!

pinkpower

Well, I've just made my token payments - I managed to do all bar one on line. I'm going away for 2 weeks on Monday - so heaven knows what I'll come back to! Hopefully the CCCS welcome pack will arrive while I'm away so I can get on with setting up the direct debit etc.
My estimate to clear my debts is 4 yrs 6 mths, but that depends on whether interest charges are removed, I'll have to wait and see...

katkins2

Hi, I've been lurking around here for a while now and am in the early stages of setting up a DMP with CCCS. I have my letters ready to post to my creditors so they haven't officially been told of my situation yet. The reason for the title of my post is LLoyds TSB credit card. My hubby made a token payment last week for the first time (he has always paid the minimum up to then) and he received a telephone call a couple of days later. He explained to the guy that he had recently lost £500 per month out of his wages and was unable to make the minimum payment but advised him we were seeking help from CCCS. The guy accepted this and didn't push any further for a payment and actually wished OH good luck at the end of the call. He said no further action would be taken until 10th August. I have just logged onto my internet banking and have realised that LLoyds have helped themselves to £275!!!! The amount we were short on the minimum payment. That money was to pay my mortgage tomorrow!!! I am soooooo annoyed at them. I've read around the forums that they can 'offset' any money from a bank account. I have set up a new bank account but until all my DD's have moved across, I need to keep paying into my LLoyds account to pay my bills. This should be sorted within the next couple of weeks, I didn't expect them to go diving into my bank account so soon, after only 1 missed payment. Is there anything I can do about this? I've had to increase my overdraft limit just so that my bills get paid tomorrow, not sure how CCCS will look at this as I'm not supposed to take any further credit.......LLoyds left me with no choice as the last thing I want to do is default on my mortgage!

So sorry for the rant.......I really needed to get that off my chest.

Katkins x

MisterRon

Hi All - Just been reading up on the forums as I've just started my DMP with CCCS. The first payment will go out tomorrow and I've gone through the ordeal of changing my bank account and canceling my direct debits. I've sent the letters off to my creditors but didn't include a token payment as everyone was up to date until my DMP starts. I've had nothing back yet from anyone except Barclays who have rejected my offer of repayment for my overdraft and are going to issue me with a termination notice. I take it that this is all very normal and I don't have to do anything just yet?

I'll feel better when I've heard where I am with all my creditors. Hopefully after a few months my offer will be accepted.

yellowpinky

rayday2 wrote: »

If you were happy with a DMP then put it down to a staff member who is not as good as the others you have spoken too. If you go on a DMP it keeps your options open you could if it was wise do an IVA later. However, if you were to do an IVA from the start then I believe it doesn't leave much more than bankrupcy if it turned out to be a wrong decision.

Rayday, thanks for your reply, and I've found your previous posts really helpful to read too. I admit Wed night's call did get me down, it was just so unexpected to be questioned especially when I've had the application form two weeks and been on the phone to them two or three times a week since with questions and bits, and no one else has brought the subject up (maybe they were sick of me phoning!). I think it was the telephone manner of the person that made me feel a bit interrogated and defensive. My reasons for choosing a DMP are exactly like you said but I ended up just stuttering like an idiot, and I agree with what you said about IVA's too, further up the page, I find the idea of them rather frightening. Anyway, getting myself into a mindset that if they think a DMP isn't going to work out for me, I might consider organising something of my own (reading the Do Your Own DMP thread with interest). But it's very easy to say that at the moment! I'm just going to sit tight now for the next week or so and see what happens.

Had a phone call at work Thurs from M & S - argh! I managed to use one of the private meeting rooms and just explained what I had already said in my HA letter (they didn't seem to have received it) and they said that until something was set up they couldn't stop calls/letters/charges. I also asked for them to contact me in writing from now on, but she said it would just delay everything. I suppose they're going to say all these things really to get you to pay. I felt ok for having spoken to them though, it was my "first call" that I'd had to deal with, and though I'm not planning to phone the number for the "Financial Difficulties" department that she gave me, I'll keep it safe as I feel it's best not to close any doors, as it were.

Hope everyone is well, and Good Luck to those starting out on their DMP's.

costaerer

just a couple of quick questions to you fellow dmp'ers!

have just set up dmp with cccs, i have about 7 creditors, when i log onto cccs it only shows 3 on my statement. is this because only three have agreed to take payment from cccs(i have recieved letters from the creditors saying they are agreeing to the plan).

also, i am going to be recieving various lump sum amounts of money over the next year-18months....am i better giving the money to cccs to distribute to my creditors, as and when the moneycomes, or put it into a savings account and make full and final settlement offers in 18months to clear the debt? the only thing that worries me about the 2nd option is that i will spend it before i can give it to cccs.

cocker100

katkins2 wrote: »

Hi, I've been lurking around here for a while now and am in the early stages of setting up a DMP with CCCS. I have my letters ready to post to my creditors so they haven't officially been told of my situation yet. The reason for the title of my post is LLoyds TSB credit card. My hubby made a token payment last week for the first time (he has always paid the minimum up to then) and he received a telephone call a couple of days later. He explained to the guy that he had recently lost £500 per month out of his wages and was unable to make the minimum payment but advised him we were seeking help from CCCS. The guy accepted this and didn't push any further for a payment and actually wished OH good luck at the end of the call. He said no further action would be taken until 10th August. I have just logged onto my internet banking and have realised that LLoyds have helped themselves to £275!!!! The amount we were short on the minimum payment. That money was to pay my mortgage tomorrow!!! I am soooooo annoyed at them. I've read around the forums that they can 'offset' any money from a bank account. I have set up a new bank account but until all my DD's have moved across, I need to keep paying into my LLoyds account to pay my bills. This should be sorted within the next couple of weeks, I didn't expect them to go diving into my bank account so soon, after only 1 missed payment. Is there anything I can do about this? I've had to increase my overdraft limit just so that my bills get paid tomorrow, not sure how CCCS will look at this as I'm not supposed to take any further credit.......LLoyds left me with no choice as the last thing I want to do is default on my mortgage!

So sorry for the rant.......I really needed to get that off my chest.

Katkins x

Hiya,

Unfortunately, the answer is "yes" they can do this and no, there is nothing you can do about it.

It will be somewhere in the terms and conditions of the card that they can offset any overdue balance against money from other LTSB accounts.

They did it to me at the beginning of my DMP and like you, the money was meant to be for our mortgage. Unfortunately, our mortgage payment bounced too.:mad:

When they realised i'd switched accounts and stopped my wages going into my old LTSB account, they got really hacked off and started phoning constantly for days! It took a couple of month for it to settle down.

However, i'm now coming up to 2 years into my DMP in October and all is now good with all of my creditors. (for the time being at least!:rolleyes:)

This is why it is vital to get a new "safe" bank account set up before you enter into a DMP. That way, no creditor can take your money!


Good luck,

Cocker:)

Daffykjs

Katkins,
What a nightmare!! As Cocker says nothing you can do now! But I would phone CCCS and tell them, not because they will look at it any different, more so they can set your mind at rest that this is probably very common. I presume this overdraft will eventually be on your list of creditors with CCCS? If not maybe it should be.

costaerer, can you maybe set up another account that you put any extra money into? where you are unlikely to dip into it? You can give any extra money to the DMP but people often choose to put it in an emergency or full and final fund instead!

Well i have realised why Barclays have MADE money when all the other banks haven't!

Bl00min B4st4rds have charged me a second £22 for the same instance of going into my overdraft!

this is my bills account and it all went a bit t1ts up when we overspent on holiday in June! and there was no more money anywhere to improve the situation (until of course i went crawling to my dad for a loan) and because it was in the overdraft for 7 working days (so longer than the 5 days allowed) they have charged me twice!

£44!!!!!!!!!! I mean firstly this is more than Tw4twest's charges, and secondly even Tw4twest have once in a while given me the odd charge back as a show of good will! Barclays man on the phone today said he couldn't do this, all he could do was put in a complaint but that they put this on the statement so you can have enough in there to cover it! i don't know about you but i do all my banking on line now and don't really read my statements (maybe i should) and i probably only read the numbers and payments even when i do! so i shall see if anyone contacts me over this, but some how i doubt it! another £22 profit in the Barclays back pocket!!